Harvey Investment Co. LLC Sells 46 Shares of GE Vernova Inc. (NYSE:GEV)

Harvey Investment Co. LLC trimmed its stake in GE Vernova Inc. (NYSE:GEV) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,800 shares of the company’s stock after selling 46 shares during the period. Harvey Investment Co. LLC’s holdings in GE Vernova were worth $592,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Czech National Bank lifted its position in shares of GE Vernova by 7.2% in the 3rd quarter. Czech National Bank now owns 55,980 shares of the company’s stock worth $14,274,000 after acquiring an additional 3,751 shares during the period. Mather Group LLC. bought a new position in GE Vernova in the third quarter worth $531,000. Atomi Financial Group Inc. boosted its stake in GE Vernova by 10.9% during the third quarter. Atomi Financial Group Inc. now owns 1,584 shares of the company’s stock worth $404,000 after buying an additional 156 shares in the last quarter. Brookstone Capital Management increased its holdings in GE Vernova by 17.7% in the 3rd quarter. Brookstone Capital Management now owns 4,466 shares of the company’s stock valued at $1,139,000 after buying an additional 671 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at $75,000.

GE Vernova Stock Up 1.8 %

NYSE:GEV opened at $374.67 on Friday. GE Vernova Inc. has a twelve month low of $115.00 and a twelve month high of $447.50. The company has a market cap of $103.28 billion and a P/E ratio of 67.39. The business has a 50 day moving average price of $357.71 and a two-hundred day moving average price of $284.04.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.70 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts anticipate that GE Vernova Inc. will post 6.33 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.27%. GE Vernova’s dividend payout ratio is presently 17.99%.

GE Vernova declared that its board has authorized a stock repurchase program on Tuesday, December 10th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $453.00 price target on shares of GE Vernova in a research report on Tuesday, January 28th. Evercore ISI raised their target price on GE Vernova from $385.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a research note on Monday, October 21st. They issued a “buy” rating and a $354.00 price target on the stock. TD Cowen started coverage on GE Vernova in a research note on Thursday, December 5th. They set a “buy” rating and a $400.00 price objective for the company. Finally, Johnson Rice began coverage on shares of GE Vernova in a research note on Friday. They issued a “buy” rating and a $425.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $346.22.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.